CEO Spotlight: Sid Chowdhary of Credence Management Solutions
In 2007, Sid Chowdhary launched Credence Management Solutions, to test a new business model of how a services company should be structured in the “new economy,” because as he observed the true test of a great company was whether it can thrive during an economic downturn.
When Kathy Albarado, President and CEO, spoke to Sid one afternoon she found him to speak with passion about his convictions with recurring themes of always operating with intention, applying a constant focus, and making an impact to those around him. When asked why Sid decided to go forth starting his own business, he responded, “Partly because I felt like there was less risk and more control in running my own organization and instead of being an employee in someone else’s, I got to create an organization where each employee would be incentivized to act as their own boss and take initiative to help us grow. But more importantly, I believed we could do things better.” Additionally, when his eldest sister was diagnosed with terminal cancer, Sid was moved by her resolve to make each day count and wanted to make Credence a place where each person can have the opportunity to realize their full potential.
Sid was very convinced that the Credence differentiator was in how they measure their success. "We treat each customer, teaming partner, associate, and employee as a trusted partner. We ensure successful outcomes by focusing on the one measure of success that we consider to be most important – Yours."
Operating with Intention:
The Credence Philosophy, "Do the right thing for the customer” is stated with distinction. It isn’t about doing what we believe to be the right thing; it’s about what the customer believes to be the right thing. Credence’s entire philosophy is built around the fact that as trusted advisors, they help their customers meet their mission every day.
Sid made it clear that he doesn't believe in formal organizational structure as a necessity to get things done – as this can easily turn into a bureaucracy, which instead becomes an obstacle in getting things done. A great example he used was that there should be no "box" for quality assurance in an organization-chart as the proof of quality assurance is in the artifacts of the final product. “If we start with excellence in performance through the process we execute, then the quality of our work is expected as part of the final outcome.”
“In order for Credence to remain competitive and keep growing, we maintain a sharp focus on our strengths. We are always striving to provide innovative management and solutions to our clients and focusing on the right work. This mentality allows us to leverage those strengths and continue to be seen as value-added trusted advisors in our space. We avoid distractions and remain committed to delivering results for our customers.”
“As a firm believer in client impact, we measure our success as it relates to the impact we make with our customers business goals. This often is reflected by our increased efficiencies and decreased costs.” Familiar with community impact, Sid is a strong supporter of a number of non-profit organizations that are focused on the literacy and development of underprivileged children. “I attribute a large part of my success to my education, and realize that in the interconnected world we live in, literacy and education are going to determine the success potential of the next generation.” Two organizations that Sid admires and supports are—Everybody Wins! DC, a non-profit organization devoted to promoting children’s literacy and a love of learning in low-income public elementary schools, and NFTE (The Network for Teaching Entrepreneurship), which provides programs that inspire young people from low-income communities to stay in school, to recognize business opportunities and to plan for successful futures.
Sid Chowdhary and his team at Credence are successfully growing an organization that nets tremendous impact, while still running with intentional focus. If you ever get a chance to speak to Sid, I encourage you to ask him about his corporate philosophy. His passion for his vision is making a true difference in this community.